AUBURN HILLS, Mich. & WICHITA, Kan.--Guardian Industries Corp. and Koch Industries, Inc., today announced that Guardian stockholders have approved the acquisition of the company by KGIC Merger Corporation, a wholly owned subsidiary of Koch Industries. The deal is an all-cash transaction for the remaining 55.5 percent outstanding shares of Guardian Industries’ common stock not already owned by affiliates of Koch.

“Guardian Industries and its employees have proudly served customers for 84 years, and we have benefited a great deal from Koch’s robust guidance and infrastructure since its initial investment in 2012,” said Ron Vaupel, president and CEO of Guardian. “Our companies align in many areas including culture, global footprint and supply chain. We are excited to continue working together to create value for our customers and society.”

“Working with Guardian’s dedicated employees has proven to be a rewarding experience,” said Dave Robertson, president and COO of Koch. “We look forward to combining the strengths and capabilities of Guardian and Koch to better meet the needs of our customers.”

“Guardian is a world-class organization and a leader in providing innovative products,” said Charles Koch, chairman and CEO of Koch. “This acquisition fits well with our culture and core capabilities. We look forward to Guardian fully joining the Koch Industries family.”

The transaction is subject to customary closing conditions including antitrust approval, and is expected to close in the first quarter of 2017.

Guardian Industries Corp. is a privately held, diversified, global company headquartered in Auburn Hills, Michigan. Guardian, and its family of companies, employ 17,000 people and operate facilities throughout North America, Europe, South America, Africa, the Middle East and Asia, with a vision to create value for customers and society through constant innovation using fewer resources. Guardian Glass is a leading international manufacturer of float, value-added coated, and fabricated glass products and solutions for architectural, residential, interior, transportation and technical glass applications. SRG Global is one of the world’s largest manufacturers of advanced, high value coatings on plastics for the automotive and commercial truck industries, providing solutions for greater surface durability, structural integrity, functionality, vehicle efficiency and design flexibility. Guardian Building Products is a leading U.S. based distributor of specialty building products. Visit www.guardian.com.

About Koch Industries, Inc.

Based in Wichita, Kansas, Koch Industries, Inc. is one of the largest private companies in America with estimated annual revenues as high as $100 billion, according to Forbes. It owns a diverse group of companies involved in refining, chemicals, biofuels and ingredients; forest and consumer products; fertilizers; polymers and fibers; process and pollution control equipment and technologies; electronic components; commodity trading; minerals; energy; ranching; glass; and investments. Since 2003, Koch companies have invested about $80 billion in acquisitions and other capital expenditures. With a presence in more than 60 countries, Koch companies employ more than 100,000 people worldwide, with about 60,000 of those in the United States. From January 2009 to present, Koch companies have earned more than 1,000 awards for safety, environmental excellence, community stewardship, innovation, and customer service. For more news and stories, visit www.kochnews.com.

Updated daily, mfrtech.com includes featured articles and manufacturing news, product releases, business expansions, acquisitions and business forecasts submitted by our visitors or authored by editorial staff.